State Administration of Foreign Exchange: China's current account surplus in the fourth quarter of 2025 was 1.7261 trillion yuan, with a merchandise trade surplus of 2.196 trillion yuan.

On March 27, the State Administration of Foreign Exchange released China's international balance of payments for the fourth quarter and the full year of 2025. In the fourth quarter of 2025, China's current account surplus was 1726.1 billion yuan, with a merchandise trade surplus of 2196 billion yuan, a service trade deficit of 343.5 billion yuan, a primary income deficit of 175.6 billion yuan, and a secondary income surplus of 49.2 billion yuan. The capital and financial account had a deficit of 1662.1 billion yuan. In 2025, China's current account surplus was 5243.4 billion yuan, while the capital and financial account had a deficit of 5517.1 billion yuan. In US dollar terms, in the fourth quarter of 2025, China's current account surplus was 243.8 billion US dollars, with a merchandise trade surplus of 310.3 billion US dollars, a service trade deficit of 48.5 billion US dollars, a primary income deficit of 24.9 billion US dollars, and a secondary income surplus of 6.9 billion US dollars. The capital and financial account had a deficit of 234.8 billion US dollars. In 2025, China's current account surplus was 735 billion US dollars, while the capital and financial account had a deficit of 773.5 billion US dollars. In terms of Special Drawing Rights (SDR), in the fourth quarter of 2025, China's current account surplus was 178.9 billion SDR, with a merchandise trade surplus of 227.6 billion SDR, a service trade deficit of 35.6 billion SDR, a primary income deficit of 18.2 billion SDR, and a secondary income surplus of 5.1 billion SDR. The capital and financial account had a deficit of 172.2 billion SDR. In 2025, China's current account surplus was 543.7 billion SDR, while the capital and financial account had a deficit of 571.1 billion SDR. Based on the latest data, the State Administration of Foreign Exchange revised the international balance of payments for each quarter since 2019. In addition, to enhance the transparency of international balance of payments statistics, the State Administration of Foreign Exchange has started to release detailed investment income data, as well as segmented financial account data by sector and maturity, with the release of the 2025 full-year international balance of payments data. For more information on the revisions and new data, please refer to the "Statistical Data" section on the official website of the State Administration of Foreign Exchange. To facilitate the interpretation of international balance of payments and international investment position data by society, the International Balance of Payments Analysis Team of the State Administration of Foreign Exchange has also released the "2025 China International Balance of Payments Report". (End) This article is selected from the official website of the State Administration of Foreign Exchange; edited by Li Fo for GMTEight.